5. INTANGIBLE ASSETS AND ACQUISITION (Tables)

3 Months Ended

Mar. 31, 2015

Intangible Assets And Acquisition Tables

Aggregate purchase price and assets acquired and liabilities assumed

The purchase of MWS included the acquisition of assets of $22,290,706 and liabilities of $2,075,956. The aggregate purchase price consisted of the following:

Cash $ 11,000,000

Estimated value of common stock issued to sellers 1,978,750

Estimated value of preferred stock issued to sellers 7,121,000

$ 20,099,750

The following table summarizes the estimated fair value of MWS assets acquired and liabilities assumed at the date of acquisition:

Accounts receivable $ 632,322

Prepaid expenses 123,544

Deposits 8,303

Containers 2,710,671

Furniture and equipment 299,450

Trucks 4,243,964

Customer lists 14,007,452

Non-compete agreement 150,000

Accounts payable and accrued expenses (54,387)

Notes payable (143,464)

Deferred revenue (1,878,105)

$ 20,099,750

Intangible Assets

			March 31, 2015
	Remaining			Accumulated	Net Carrying
	Useful Life	Cost		Amortization	Value
Customer list	4.5 years	14,007,452		2,568,033	11,439,419
Loan fees	4.5 years	50,613		15,465	35,148
Non compete agreement	4.5 years	150,000		27,500	122,500
Website	2.9 years	13,920		928	12,992
		$     14,221,985		$ 2,611,926	$  11,610,059